Media pay the price for ignoring bloggers

CBS paid the price for ignoring bloggers. Powerline, Time's Blog of the Year, is given a lot of the credit for exposing Dan Rather's attempt to use forged documents in a bid to smear President Bush. Rather paid the ultimate price and is to resign, er, retire.

Recently, Powerline has been in a dispute with a columnist at the Star Tribune, Nick Coleman. Lots of accusations were made by Coleman that were untrue and Powerline failed to get them retracted. However, one of the accusations involved a local bank who one of the bloggers worked for and happened to have advertising with the Tribune.

Since the Tribune would not retract the false claims made against Powerline, the bank pulled their advertising! Here is what the bank had to say.

While I have disagreed with the Star Tribune on many issues, I respect with all my heart your right of freedom of the press and free speech. Apparently Nick Coleman does not share these values.

To suggest that customers of TCF Bank should move their money because of a TCF employee's blogging activities (an exercise of free speech) is just wrong. To suggest that an employer of an individual who exercises free speech rights should be punished is, I am sure, a violation of journalistic ethics and perhaps a legal issue.

Just for the record, the first time I ever heard of Power Line (which I have never read) was when I read about it in Time Magazine. To suggest that TCF or I am somehow the creator or supporter of Power Line is simply not true. Incidentally, Mr. Coleman never contacted me to ask if I was behind it (another example of great journalism!).

One thing I can assure you of is that if your columnists can suggest that people stop banking at TCF because of the political activities of one of its employees, TCF will never spend another dollar on advertising in the Star Tribune as long as I am Chairman.

When will they learn blogs are a serious business.
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